From digital currency to digital deposits, financial services organizations are having to divert from their old-school ways of closed, monolithic legacy applications.
A "true name" identity fraud occurs when someone uses an individual's actual identifying information.
With big banks denying the vast majority of small-business loan applications, the role of other lenders becomes increasingly important.
A list of some of the most interesting bank account alternative providers among FinTechs in Europe.
Over the last few years, a few startups have attained the “Unicorn” status by crossing 1-billion-dollar valuations.
The new service offered by U.S. Bank is powered by Early Warning’s clearXchange network.
Robo-advisory services are offered via digital platforms, which follow through automated, algorithm-driven financial planning services with little or no manual supervision.
A list of some companies that provide financial infrastructure APIs.
Here are some interesting examples of the applications of blockchain technology beyond financial services:
A list of some of the most interesting marketing moves from FinTech companies to prove that FinTech is also about fun.
A list of 33 mind-blowing statistics that are fueling payments industry growth.
The regulatory institutions pass at least six of the most important constraints listed by the WEF that banks have to face, which can have an inhibiting effect on the attempts to deploy risky but innovative solutions.
Prove today announced that Comparably honored the company with three new awards for 2021: Best CEOs for Diversity, Best Leadership Teams, and Best Career Growth.
‘Buy Now, Pay Later’ (BNPL) as a mode of payment has been effective in driving sales not just for online businesses but also for brick-and-mortar stores.
ATMs may soon go the way of the 8-track tape, as companies and banks are devising alternate methods of withdrawing cash from ATMs, one of which is cardless.
As FinTechs continue to disrupt traditional financial services, banks are waking up to the fact that offering an Open API that developers can latch on to and create very specific customized app solutions is how to engage and retain their customers.
Apart from startups, many banks have been exploring blockchain in some way or the other.
Westpac has partnered with Hey You, a mobile coffee ordering outfit, to give customers a $5 Hey You credit to use at participating businesses.
With transaction banking, business enterprises can improve liquidity management, fund cash requirements appropriately, and make safe international money and securities transactions that comply with global financial frameworks.
B2B payments technologies have been moving at a snail’s pace, and the conventional systems are riddled with high costs and inefficiencies.
Banking app developers can now work with Apple to create apps that will enable users to log in to an account using the Touch ID fingerprint sensor.
Initial perceptions of FinTech startups pegged them as standalone disruptors of the financial ecosystem. But the consensus within the financial sector is shifting.
There are new companies that do not identify as FinTechs but embed financial services in offerings to attract and retain customers.
Global money transfer company TRANSFAST today announced partnerships with three leading Kenyan banks for instant deposits, as well as the launch of its M-PESA service.
As vehicle ownership has increased, so has auto loan fraud which lenders have been trying to combat.
Prove today announced an exclusive partnership with Tabula Rasa HealthCare to use Prove’s Fonebook™ technology to more effectively connect with hard-to-reach patients.
Users are always looking at those products that save their time and meet their specific needs.
Regulatory and compliance issues are some of the most important, complex, and resource-consuming problems to solve for any organization, especially for startups with limited resources.
Gamification essentially transforms the way customers are compelled to interact with the services being offered by utilizing different interactive incentives.
A list of some of the most promising blockchain companies providing enterprise-grade solutions.
Largely under the influence of FinTech, the robustness of internal infrastructure in banking went from being an industry norm to a disadvantageous hallmark.
Throughout 2019, we saw major cellular carriers like AT&T, Verizon, Sprint, and T-Mobile roll out 5G networks.
We no longer walk with too much money in the wallet, and transfer rates between banks are high.
China UnionPay (CUP), the world’s largest bank cards issuer, enters the mobile payment space by launching QuickPass in Beijing in cooperation with over 20 commercial banks.
Incumbents on both sides (banks and FinTechs) are working towards coming together to meet growing customer expectations.
In this exclusive in-depth analysis, a banking domain expert sat down with an analytics team and analyzed three years of data from the CFPB to understand the service levels in financial services.
Are the SMEs finally going to get their dues with the evolving banking services driven by technological advancements after years of being underserved? Or will this innovation be driven by neobanks and FinTechs?
The explosive rise in digital transactions has led to an alarming rise in online identity fraud, often executed by fraudulently taking over the consumer’s phone.
Square, Inc. is all set to start its bank “Square Financial Services” in 2021 and open it to small-business customers.
What is getting smart investors, entrepreneurs, and savvy bankers excited?
Banks now realize that one of the most crucial areas of business where tech can elevate their perception is the process of onboarding.
Passwords pose a dual challenge of security and friction and need to be phased out.
The partnership will bolster Binance.US’ existing cutting-edge customer onboarding process and enable the platform to continue to accommodate new customers quickly and securely.
The future of the banking ecosystem will extend well beyond financial services.
Banks are now finding ways to involve themselves with startups to reap benefits by making early-stage investments and launching mentorship programs to attract talent.
Customers can now have the option of fulfilling all their banking needs through an iPad.
It is estimated that the Cholamandalam's parent company Murugappa group together has over 3.5 million rural customers.
FinTech startups logically want data to be freely available to customers (and startups, of course), while banks tend to be protecting precious information they own.
The QR Code has emerged as a powerful portal between the material and the digital spheres and is fast becoming a retailer’s best friend.
Silicon Valley Bank, the bank of the world’s most innovative companies, announced it had acquired the assets and team from startup company Standard Treasury to accelerate the development of its banking services APIs.
A host of banking API providers has expanded opportunities for entrepreneurs to build solutions for different segments of the financial services industry.
Cloud-based services have been driving efficiency and cost reduction across industries for quite some time now.
There's one area of banking that has not evolved as it should have over the decade: missed payments and collections.
Due to the way current EMV cards are currently personalized and issued, maintaining the EMV status quo shouldn’t be justified anymore.
One of the ways AI could foster the development of InsurTech is data capture and storage.
E-commerce has provided consumers with more options than ever before, making it more challenging for retailers to inspire brand loyalty.
Behavioral biometrics solutions are able to create a more precise picture of the user by examining a range of behavioral patterns.
Rapid cross-industry digitization has a significant impact on how businesses operate and grow—from the very business model to how they acquire and interact with customers and expand to international markets.
As digital activity volume increases, digital-native FinTechs are compelled to combat application abandonment and reduce identity fraud.
The value of fraudulent online transactions is expected to grow from $10.7 billion last year to $25.6 billion in 2020.
As data-rich organizations look for ways to leverage the endless opportunities insights into customers provide, big data analytics finds a variety of other applications.
The mobile phone is increasingly becoming central to how we live our lives—from checking the weather to booking a personal training session at the gym.
Password sharing results in millions of dollars in lost revenue.
Entrance into Hong Kong’s highly penetrated smartphone market furthers rapid expansion of Prove’s Phone Identity Network™ to 60 countries
Prove’s Phone-Centric Identity technology can improve your identity verification strategies to make your customer experiences safer, faster, and easier.
The primary cause of the historic delay in issuing tax refunds this year is not a logistical hiccup caused by the COVID-19 pandemic but rather a rapid influx in identity fraud.
COVID-19 has accelerated the insurance industry’s transition to digital-native models.
The Collaborative is a project of ID2020, a public-private partnership made up of businesses, nonprofits, governments, and individuals focused on ethical, privacy-protecting approaches to digital ID.
Identity tokenization can elevate digital servicing by improving customer service while respecting data privacy.
Biometrics are playing an increasingly critical role in securing the rapidly growing number of digital transactions worldwide.
While a better banking experience has been the mantra for challenger banks, diversity in operating models and customer journeys specific to target segments pose barriers to their growth.
Scamsters are increasingly prying on unsuspecting first-time digital users.
Prove to Add UnifyID’s Mobile Behavioral Biometrics and Push Authentication technologies to offer companies a modern multi-factor authentication platform as businesses seek to reduce reliance on one-time passcodes and passwords
In addition to direct losses, investments in fraud prevention systems and tools, personnel cost, and the adverse impact on revenue caused by bad customer experience add up significantly to the total cost of fraud in an enterprise.
In Australia, the Digital Transformation Office is creating a trusted digital identity framework to lay the groundwork for a centralized digital identity solution.
Existing means of verification, such as in-person ID checks or having to supply copious amounts of documentation, are extremely cumbersome.
As the QR code becomes more popular, its use cases have become more complex and creative.
Big improvements to a familiar technology make QR Pre-fill™ a must-have for Chief Marketing Officers
KYC practices may vary by country based on unique identification sources and the maturity of digital infrastructure to automate operationally heavy processes.
There has been an increasing number of scams in the ecosystem, resulting in loss of money and reputation for exchanges and the cryptocurrency ecosystem.
Today’s product launches in Australia, France, and Germany are the latest advancements in Prove’s global-forward strategy.
There is always a chance of a fraudster lurking in the background, trying to grab the right opportunity to take over your digital accounts.
Identity verification tools can safeguard both the establishment and the customers from identity fraud that results in heavy losses.
Mobile wallets do win in simplicity and convenience. But the question consumers often ask is, “How safe are mobile wallets?”
Modern identity authentication methods such as Mobile Auth connect to mobile networks and leverage mobile data intelligence to ensure that the device used to access the service is indeed linked to the phone number being used for the service.
Exponential growth in digital transactions globally and increasing sophistication in fraud have highlighted the need for an algorithmic model that taps into multiple data sources and attributes in order to assess the trustworthiness of a transaction.
In the digital-first world, startups from multiple industries such as e-commerce, financial, healthcare, and insurance are getting impacted due to customer impatience with application experiences.
Identity verification and authentication leader recognized for dramatic 670% revenue growth and innovative solutions
The typical solution approach to addressing these problems is highly fragmented in an enterprise. However, with a single platform that satisfies many use cases, you could rationalize and streamline the enterprise solution landscape.
Prove, the newest member of the Good Health Pass Collaborative, will provide the group with expertise on preventing fraud by reliably authenticating users with just their phone numbers.
Leading digital identity technology company Prove recognized for most promising future and best work environment for its employees
The UK Digital Identity and Attributes Trust Framework details the principles, policies, and standards that must be followed by organizations providing or using digital identity services.
SIM Swap, also known as SIM Splitting or SIM jacking is a fraudulent activity, where a fraudster takes complete control of users’ phone accounts by either porting or cloning their SIM without their knowledge.
Passwordless Login utilizes multi-factor authentication factors to verify a user’s identity without a password.